druddle

Hello

I am in the process of selling my wifes car. The guy has paid a deposit, and has asked if i want the remainder in cash or as a bankers draft.

If i say bankers draft, can I give him the keys and car when he presents me with the draft ? Is it as good as cash in my hand ? Or should I have cash ?

Difficulty is I cant get to the building society to pay a draft in immediately as i cant drive due to a broken leg.

Whatever happens, if someone tries it on i will just get Navtrak to tell me where the car is

Dave

Jap2Scrap

You can call and verify the draft if you think it's necessary. Remember though as long as it's not printed out on his Lexmark a Bankers Draft is GUARANTEED to clear. The credit is due against the bank and not the buyer's account.

Don't let any horror stories you're bound to get off here tell you different. As long as the draft isn't forged (verifiable by phone call) you're home and dry.

MattW

Yup, agreed. Ask him to pick up during banking hours and call the issuer and confirm draft numbers.

V5-APS

iTrader: (1)

You could always either go yourself with the buyer, or send someone with him, to a branch of his Bank in your area, and watch him draw the bankers draft in person

Dracoro

Do what I did when I bought my car. You and the buyer go to his bank and he draws the draft there and then in front of you. simple. coz he's there too, he can drive you and your broken leg

Jap2Scrap

You could but don't forget the guy has a broken leg. The phone will be easier in this instance

druddle

Thanks chaps, confirmed what i thought. Will get the draft and call to confirm it.

Dave

New_scooby_04

iTrader: (4)

Beware of the buyer who has a long way to travel and gets 'delayed', arriving after the banks have closed. Someone from Kent Scoobies got taken in by a conman this way.

Make it clear to the buyer that unless you can confirm the authenticity of the draft or can see the money

a) in your hand
b) in your account

Then you will NOT release the car!

You could ask for a chaps transfer, which is electronic. Saves any wasted journeys and eliminates any risk.

NS04

davegtt

may aswell get a bank transfer, yeah it costs but so does a bankers draft, AND (shockingly dissapointting too) a bankers draft doesnt clear straight away, its exactly the same as a cheque except its guarenteed to clear.....

kbsub

Yup my bank told me this had to wait 5 working days for 12k to clear !

davegtt

yup, when I bought the scooby with a bankers draft I was more than annoyed to find I had just paid £15 for a bankers draft that wouldnt even clear straight away ridiculous, and the seller paid another £15 just to get it to clear in 3 days rather than 5 WTF!!!!

banks = robbing bassas

webby v7 slipperwagon

iTrader: (2)

Very true, i had the same trouble. Rather than wait for it to clear i told him just to order the cash.

StickyMicky

paid for my scooby with a bankers draft

Jer

I just bought a car and the garage made me fax a copy of the bankers draft over before picking the car up. They then phone the bank and check.

Kieran_Burns

iTrader: (1)

Paid for my Golf likewise - the dealer actually PREFERRED to be paid with one

r

Do a bank transfer!if the are a 'genuine' buyer the money is in your bank before they have the keys in their hands!.Costs about £25...get them to pay for that of course!
good luck.
Si

jods

I had some dealing re bankers drafts recently.

They are NOT guaranteed.

Get your bank to contact the issuing bank to confirm the serial number and amount.

Quite a few stories around about foreign drafts being used for payment, goods released, draft takes a week to arrive at foreign bank and


"It's fake"

or

"It's nicked"

or

"It's tampered with"

Either way - Fooked

Just make the call !!

CooperS

I took the bankers draft to the bank with the guy before I handed the keys over. all good